Bitcoin

  • BTC

  • $66,388

  • -1.47%

Asset Appearances

Crypto - Crypto Strategy
Thu, October 17, 2024 | 8:24PM ET
Sean
Sean Farrell AC

Head of Crypto Strategy

Buying More SOL, Plus Another Election Trade Idea (Core Strategy Rebalance)

SMALL CAP BREAKOUT A POSITIVE INDICATOR FOR BTC It is a common refrain among passive industry observers that BTC is strongly correlated with large-cap tech...

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Tue, October 15, 2024 | 11:11AM ET

⚡ FlashInsights

Tue, October 15, 2024 | 11:11AM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥 🔥
Bitcoin (BTC/USD) still has some work to do before it can be truly proclaimed to be "breaking out". As daily charts show of this pattern from earlier this year, the channel resistance officially intersects near $69k which connects March 2024 peaks with prior breakout attempts from May, June and July. While exceeding September peaks is thought to be a constructive technical development, the larger pattern remains Neutral, not bullish. The ability to surpass late July highs at $70016 is what's needed technically to help BTC -1.47% begin a larger move higher. Given that US Equities might show some consolidation into early to Mid-November, i would suspect that a larger breakout might be postponed until after the election. However, the intermediate-term view is quite positive given that prices have traded largely range-bound near all-time highs for over six months. However, more will be needed to drive a breakout that can immediately extend. Furthermore, I'm skeptical that BTC would be able to push higher aggressively if stocks show weakness in the coming weeks.
Assets

Crypto - Comments
Thu, October 10, 2024 | 6:47PM ET
Sean
Sean Farrell AC

Head of Crypto Strategy

Three Key Catalysts for a Strong October Finish

In today's video, we break down why recent claims data, favorable seasonality, and shifting election odds signal a strong setup for crypto in the second...

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